For many, the hullabaloo that greeted the freeze of MMM Nigeria did not alert them about the crash of Ultimate Cycler.
One Ponzi Scheme commentator said the subsequent crash of Ultimate Cycler is more or less like nemesis finally catching up with Nigerians who want to sow where they did not reap.
In case you did not know, a Ponzi scheme called Ultimate Cycler seems to have ‘cycled’ out of existence or better still crashed. More three weeks after its crash, there are no information about its activities and status. Its login pages and major inner pages are not responding.
Most of its active participants who normally will advertise the scheme on various social media have all of a sudden disappeared into thin air. An interested member told PageOne.ng that she asked one of its participant to register her on the scheme but he declined and refused to give any reason.
Many who followed the activities of Ultimate Cycler told our correspondent that there was a signal of this crisis sometime in December 2016, when the site reportedly crashed but came back after 24 hours. A self-acclaimed founder of Ultimate Cycler, Peter Wolfing (analysts suggest it is a pseudo name) claimed the crash was due to a distributed denial of service attack (DDoS).
While no one seems to believe him, looking at the promise of 300% he promised his participants, makes one wonder what kind of investment will make that kind of promise and will be able to fulfil it with the circumstances facing various economies.
Critics of Ultimate Cycler say its extinction will serve as a warning to the participants of MMM Nigeria who are waiting for their monies to be unfrozen by the system by January 14th.
Never say never! Owners of Ultimate Cycler might restart the scheme using a different name and or coming up with a plausible reason why it will restart with the same name.
Either of the two scenario, this scheme and many other ‘get and provide help’ Ponzi Schemes might reconsider bogus interests they promise their members, especially in countries where they have crashed and or frozen